. 'During the second part of the third quarter of 2023, we experienced substantial unexpected cancellations and pushouts of existing backlog from our European distributors,' said SolarEdge CEO Zvi Lando in a statement. Lando said, 'We attribute these cancellations and pushouts to higher-than-expected inventory in the channels and slower-than-expected installation rates.
Here's what Wall Street analysts are saying about SolarEdge's dismal outlook list courtesy via Bloomberg Goldman Sachs cut to neutral from buy; PT to $131 from $254 Downgrade reflects SolarEdge's negative pre-announcement on 'significantly weaker installation rates' 'After a second straight disappointing quarter of results/guidance, we find it hard to defend the stock' Deutsche Bank analyst Corinne Blanchard Cut the recommendation on SolarEdge to hold Trimming...